The Gold and Precious Metals Division at the Federation of Egyptian Industries announced that gold prices in the local market recorded strong gains over the past week, supported by a historic surge in global gold prices and the relative stability of the US dollar exchange rate against the Egyptian pound. Ehab Wassef, Head of the Gold and Precious Metals Division, stated that the price of 21-karat gold rose by 4.59%, equivalent to EGP 265 per gram. Trading opened at EGP 5,775 per gram at the beginning of the week and closed at EGP 6,040 per gram, with prices ranging between a weekly low of EGP 5,775 and a high of EGP 6,040. As a result, local gold price movements have closely mirrored changes in global ounce prices. Wassef noted that global gold prices successfully broke through the psychological level of $4,500 per ounce, supported by strong upward momentum despite being in overbought territory.

Source: Daily News Egypt December 28, 2025 18:00 UTC